The 'Goods and Services Tax' on two-wheelers is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on two-wheelers is:

A. 18%

B. 28%

C. 12%

D. 28% plus cess

Answer: Option B

Solution (By JKSSB Mock Tests)

Two-wheelers attract 28% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'International Centre for Settlement of Investment Disputes' is a member of the:

A. United Nations

B. IMF

C. WTO

D. World Bank Group

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Correct Answer: Option D

Explanation:
ICSID is part of the World Bank Group.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Consumer Expenditure Survey' in India is conducted by:

A. National Statistical Office

B. NITI Aayog

C. RBI

D. Ministry of Finance

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Correct Answer: Option A

Explanation:
Consumer Expenditure Survey is conducted by NSO.

This question belongs to: Economy GK Economy Set 1

Question #3

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In the context of economic development, the 'Big Push' theory is associated with:

A. The need for a minimum quantum of investment to overcome indivisibilities

B. Complete reliance on market forces

C. Only agricultural development

D. Gradualism in investment

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Correct Answer: Option A

Explanation:
The Big Push theory, associated with Rosenstein-Rodan, argues that a large, coordinated investment is required to overcome complementarities and indivisibilities in developing economies.

This question belongs to: Economy GK Economy Set 1

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